Final Expense Life Insurance
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What Is Final Expense Life Insurance?
Final Expense Life Insurance will help pay your expenses after you die, such as medical bills, credit card obligations, and even burial charges. Funeral fees alone now range between $9k and $12k. The average family does not have $10,000 set aside for funeral expenditures, and in addition to medical bills and other expenses, many struggle to fulfill their loved ones’ dying wishes after they pass away. Final Expense Insurance ensures that your family can carry out your final wishes, allowing you to rest easy knowing that your loved ones will be able to carry on after you’re gone.
Your last expenses are exactly that — your final expenses. In the case of your passing, this type of last burial insurance will cover all of your final expenses— not just your funeral. Unlike other types of life insurance, this policy pays out nearly instantly, allowing your burial insurance coverage to cover all of your funeral expenses rather than having to be reimbursed later. Each final expense may need to be paid for out of pocket with reimbursement-type plans, only to be paid months later.
Benefits of Final Expense Insurance
- Final Expense Insurance pays for your final expenses after you die
- Your premiums are permanent and typically guaranteed for life
- Some policies guarantee acceptance
- Policies cannot be canceled due to your age or health
- Benefits payout for chronic, critical, or terminal illness